Niva Bupa Health Insurance Company will launch its initial public offering (IPO) on November 7, raising Rs 2,200 crore. This comes after the private health insurer filed a red herring prospectus with the Registrar of Companies.
The Rs 2,200-crore IPO includes Rs 800 crore of new equity shares and offer-for-sale (OFS) worth Rs 1,400 crore by existing promoters. Bupa Singapore Holdings Pte and Fettle Tone LLP (owned by True North) to sell shares worth Rs 350 crore and Rs 1,050 crore respectively in Niva Bupa’s OFS, according to media reports.
According to reports, Niva Bupa to announce price band for its IPO by Monday. Niva Bupa’s IPO will open its anchor book for institutional investors on November 6 and will remain open for all investors until November 11. Following the IPO closure, Niva Bupa Health Insurance will finalise the basis of share allotment by November 12 and credit shares to eligible investors’ demat accounts by November 13.
According to reports, Niva Bupa Health Insurance shares to debut on BSE and NSE on November 14, and this will be the marking the commencement of trading.
According to reports, Niva Bupa Health Insurance’s IPO is being managed by six book running lead managers – ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors – with Kfin Technologies serving as the registrar.
About Niva Bupa Health Insurance Company
Niva Bupa Health Insurance Company Limited, established in 2008, is a health insurance joint venture between Bupa Group and Fettle Tone LLP.
At the present time, the company provides customers with a health experience through its mobile app and website, offering a comprehensive health ecosystem and services. By and large, Niva Bupa Health Insurance offers a range of services, including retail solutions for individuals and families, and group solutions for employers and employees.
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